Unemployment rate remains unchanged in Euro zone

Unemployment rate remains unchanged in Euro zone

The data released by the EU statistics institution shows that the average unemployment rate in 25 member states of European Union (EU) was recorded as 9% in May 2004, down by 9.1% registered in April. Additionally, the average unemployment rate in Euro zone was stable at 9% in May, compared to April. This rate was 8.9% in May 2003. In the aforementioned period, lowest unemployment rates were recorded in Cyprus, Luxembourg and Austria with 4.2% for each, Ireland with 4.5%, UK with 4.7% and the Netherlands with 4.9% while the highest rates were registered in Poland with 18.9%, Slovakia with 16.4%, Lithuania with 11.5% and Spain with 11.1%. According to forecast of Eurostat, in May, 12.7 million people were unemployed in Euro zone and 19.3 million people in the EU. Eurostat also emphasized that the unemployment rate for the same period is recorded as 5.6% in US and 4.6% in Japan.